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Cover Story
 
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ALTERNATIVE BUDGET
A Budget for Rahul Gandhi
The future of the inheritor, and more importantly, of India depends on fighting corruption. Here is how Pranabda can use the Budget to tame the monster.
Issue Date - 15/03/2012
 
February 28, 1958: “While we should always be prepared to reconsider the methods we adopt, should this become necessary, we have to strive with all our strength for our planned development by conserving all our resources, increasing production and trying to ensure progressively a more equitable distribution and to thus raise the standards of the great mass of our people,” Jawaharlal Nehru as Union Finance Minister

February 28, 1970: “It is generally accepted that social, economic and political stability is not possible without the growth of productive forces and the augmentation of national wealth. Also, that such growth and increase in wealth cannot be sustained without due regard to the welfare of the weaker sections of the community,” Indira Gandhi as Union Finance Minister

February 28, 1987: “Twenty nine years ago, presenting the country’s Budget, Jawaharlal Nehru told this house [that...] we have to strive with all our strength for our planned development by conserving all our resources, increasing production and trying to ensure progressively a more equitable distribution and to thus raise the standards of the great mass of our people…Our principal objectives are the elimination of poverty and the building of a strong, modern, self reliant independent economy,” Rajiv Gandhi as Union Finance Minister

 
Some of you would be aware of how and why these three former prime ministers also had to don the hat of a Union Finance Minister. For those who haven’t found time to check out this bit of deliciously ironical history, here is a brief recap. In 1958, the son-in-law of Nehru – and Indira Gandhi’s husband – raised uncomfortable questions about the role of the then Finance Minister T.T Krishnamachari in what became the “Mundhra scam”. TTK, as he was popularly known, was forced to resign in February 1958 and Nehru had to temporarily take over as the Finance Minister. In 1969, the Congress party split and the then Union Finance Minister Morarji Desai quit the government. Desai was strongly opposed to the “socialist” vision being gradually adopted by the then Prime Minister Indira Gandhi. She preferred to take over the Finance portfolio after the exit of Desai. Her titanic tussle with Desai and its consequences resulted in the ‘license permit’ and ‘inspector raj’ era, issues that continue to haunt India till date. In 1987, V.P Singh, a loyal and trusted aide of Indira Gandhi and Rajiv Gandhi, was ready to present his third successive budget to the nation. Prime Minister Rajiv Gandhi, for reasons future historians will be better able to explain, shifted Singh and chose to present the budget. Within a few weeks, the Bofors scam started tormenting him.

Many of you – who have been waiting for my 12th successive Alternative Budget this time – must be wondering why I have taken a historical detour even before talking about the proposals I have in mind this year. Many of you might even be wondering about the headline for this year’s Alternative Budget: “A Budget for Rahul Gandhi”. I’ll address the second issue first. One fine day in August 2010, out of nowhere, I got a call from the office of Rahul Gandhi informing me that he wanted to meet me. I was taken aback as I had made no such request to meet him. Despite my initial surprise, I decided to go and meet Rahul to see what he had in his mind. In the brief meeting we had, he kept asking me what I wanted from him – and since I had gone with no expectations, I spoke to him about the alternate budgets that IIPM Think Tank comes out with every year. I didn’t expect him to give it much of a thought but I was pleasantly surprised to see him quite interested in it and asking me several questions around it.

          

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